PREVENT MONEY LAUNDERING IN YOUR COMPANY

Money laundering is the set of mechanisms aimed to facilitate a legal appearance to goods or assets from illegal activities. In many cases, the laundering activity involves other companies that are not aware that they are being used for this purpose.

In response to growing concerns raised by the financial crime in this area, the regulations for the prevention of money laundering and the financing of terrorism established the preventive measures that certain companies must comply with, such as:

  • Financial entities.
  • Exchange offices and money orders.
  • Property developers and persons whose business activities include those of agency.
  • Casinos.
  • People who are engaged in the commission or brokerage in real state trading.
  • Professional dealers in jewels, precious stones or precious metals.
  • Professional dealers in works of art or antiques.
  • Notaries, Lawyers, Barristers, Statutory auditors, External accounts and Tax advisers.
  • Persons responsible for the management, operation and marketing of lotteries or other gambling activities.
  • Foundations and associations.
  • Persons engaged in the deposit, custody or professional transfer of funds or means of payment.
  • Service providers of virtual currency exchange for fiat currencies and custody providers of electronic wallets.

Core Business Consulting is a spanish consultancy firm with extensive experience in Money Laundering Prevention. Our managing director is registered with SEPBLAC as external expert since 2011, in addition to being certified as statutory auditor (ROAC).

PLEASE CONTACT US IF YOU HAVE ANY QUESTIONS…



    AML TECHNICAL UNIT

    AML Technical Unit is specialized and entirely dedicated to the treatment and analysis of the entity’s information.

    AML TECHNICAL UNIT

    The AML TECHNICAL UNIT is specialized and entirely dedicated to the treatment and analysis of the entity’s information.

    CORE BUSINESS CONSULTING offer you the possibility of outsourcing this service through our most experienced professionals.

    In the following video you will be able to see the key aspects of the AML Technical Unit.


    RISK ASSESSMENT REPORT

    The PBC/CFT risk report identifies and evaluates the risks that the company faces in the development of its business.

    RISK ASSESSMENT REPORT

    Why a risk assessment report?

    The PBC/CFT risk report identifies and evaluates the risks that the company faces in the development of its business. It is the basis for designing the internal control procedures necessary to mitigate the risks.

    The Regulation of Law 10/2010 requires all obliged subjects to carry out a documented analysis that reflects the risks they face based on their business relationships, clients, operations, etc.

    Review

    The risk analysis will be reviewed periodically and, in any case, when a significant change is verified that could influence the risk profile of the obliged subject. In fact, the report itself must include the procedures for reviewing and updating necessary.

    Why us?

    At CORE BUSINESS CONSULTING we are experts in risk assessment reports. Our auditor team has carried out risk analysis for years and for companies of recognized national and international prestige in various sectors.


    PREVENTION MANUAL

    At CORE BUSINESS CONSULTING we are experts in the preparation of PBC/CFT procedure manuals.

    PREVENTION MANUAL

    Why a prevention manual?

    Both Law 10/2010 and its Regulation, specify the obligation for the Obliged Subjects to have an adequate manual for the prevention of money laundering and the financing of terrorism (PBC/CFT) that will be kept up to date and with a complete information on the internal control measures. Given their importance and significance, the PBC/CFT policies and procedures will be approved by the management body of the obliged subject.

    In the case of obliged subjects whose annual turnover exceeds EUR 50 million or whose general annual balance excedes EUR 43 million, the procedures for the implementation of policies to prevent money laundering and terrorist financing may be approved by the internal control Committee.

    Manual update

    As a consequence of the modification of the Law in September 2018, it is necessary to update the PBC/CFT Manual Procedures of the companies. Likewise, the Manuals must be a living document, that is to say, they must be periodically updated to reflect the profile and current operations of the company.

    Why we?

    At CORE BUSINESS CONSULTING we are experts in the preparation of PBC/CFT procedure manuals and our team has been making manuals and their updates for companies of renowned national standing for years.


    TRAINING IN MONEY LAUNDERING PREVENTION

    It is mandatory for companies to develop an annual training plan.

    TRAINING IN MONEY LAUNDERING PREVENTION

    Is it mandatory?

    In accordance with the regulations in PBC/CFT, it is mandatory for companies to prepare an annual training plan that is based on the risks identified and that includes training actions that can be duly accredited.
    The training actions shall be included in an annual plan, designed taking into account the risks of the business sector of the obliged entity and approved by the internal compliance unit.

    CORE BUSINESS CONSULTING has extensive experience in providing training courses on the Prevention of Money Laundering.

    Why we?

    At CORE BUSINESS CONSULTING we are experts in offering PBC/CFT training courses, having carried out more than 500 hours of training for large companies of recognized national prestige.


    EXTERNAL EXPERT REPORT

    Our managing director is registered with SEPBLAC as external expert since 2011.

    EXTERNAL EXPERT REPORT

    Why an external expert report?

    This report consists of an annual examination of the measures and internal control bodies of the obliged subjects, and it must be done by an external expert in accordance with the provisions of the article 28 of the law 10/2010. The results of the review shall be written up in a report detailing the internal control measures in place, assessing their operational efficiency and, eventually proposing changes or improvements as required.
    Given its relevance, no later than three months from its issue date the report shall be submitted to the Board of Directors or, where appropriate, to the management board or top management body of the obliged entity, which shall take the necessary steps to remedy the detected deficiencies.

    Follow-up external expert report

    In the two years following the issue of the report, it may be replaced by a monitoring report issued by the external expert, dealing only with the appropriateness of the measures taken by obliged entity to remedy the deficiencies detected.

    At CORE BUSINESS CONSULTING we are experts executing external expert reports.

    What deadline do I have?

    The external expert report (whether complete or follow-up) should be done annually.

    Why we?

    At CORE BUSINESS CONSULTING we are experts executing external expert reports.
    Our managing director is registered with SEPBLAC as external expert since 2011, in addition to being certified as statutory auditor (ROAC).


    INTERNAL AUDIT

    Outsourced audit service

    INTERNAL AUDIT

    What is it?

    In accordance with article 33 of the regulation, a procedure for the periodic verification of the adequacy and effectiveness of internal control measures will be carried out by those companies with an internal audit department, the latter shall undertake this checking function.

    Outsourcing

    Our outsourced internal audit service will review operations, check that established procedures have been followed and issue an annual report.

    At CORE BUSINESS CONSULTING we are experts conducting internal audits within prestigious companies and we also have an audit team with extensive experience.

    Why us?

    At CORE BUSINESS CONSULTING we are experts conducting internal audits within prestigious companies and we also have an audit team with extensive experience.
    Our managing director is registered with SEPBLAC as external expert since 2011, in addition to being certified as statutory auditor (ROAC).